AMREP (NYSE:AXR) Shares Cross Above 200 Day Moving Average – Should You Sell?

AMREP Co. (NYSE:AXR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.60 and traded as high as $36.21. AMREP shares last traded at $33.97, with a volume of 21,871 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of AMREP from a “hold” rating to a “buy” rating in a report on Monday, September 16th.

AMREP Trading Down 2.7 %

The company has a market capitalization of $171.40 million, a price-to-earnings ratio of 18.41 and a beta of 0.89. The firm’s 50 day simple moving average is $28.86 and its 200-day simple moving average is $23.74.

AMREP (NYSE:AXR) last announced its quarterly earnings data on Friday, September 13th. The business services provider reported $0.76 earnings per share (EPS) for the quarter. The company had revenue of $19.09 million for the quarter. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

Insider Buying and Selling

In other news, major shareholder James H. Dahl bought 4,000 shares of AMREP stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $23.15 per share, for a total transaction of $92,600.00. Following the acquisition, the insider now owns 427,774 shares in the company, valued at approximately $9,902,968.10. This trade represents a 0.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired 10,800 shares of company stock worth $298,160 in the last three months. Corporate insiders own 37.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC grew its position in AMREP by 8.0% in the first quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after acquiring an additional 2,800 shares in the last quarter. Renaissance Technologies LLC grew its position in AMREP by 2.1% in the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after acquiring an additional 2,514 shares in the last quarter. State Street Corp acquired a new stake in AMREP in the third quarter valued at approximately $216,000. BNP Paribas Financial Markets acquired a new stake in AMREP in the third quarter valued at approximately $29,000. Finally, Cerity Partners LLC grew its position in AMREP by 137.2% in the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after acquiring an additional 155,755 shares in the last quarter. Institutional investors and hedge funds own 59.85% of the company’s stock.

AMREP Company Profile

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.